New York's Cannabis tax law

New York’s Cannabis Tax Law

Last year, New York’s plan to legalize recreational cannabis failed when the measure was unable to gather sufficient support. The new proposal had those who predictably opposed it, such as law enforcement, political conservatives and teachers. But the measure also had some unexpected opponents, such as progressives who felt that the measure failed to do […]

serious corporate debt

Serious Corporate Debt

As we’ve seen, debt is something common to individuals, companies and even States. No entity is insulated from the possibility of acquiring a debt load. For many Americans, debt has become something of a staple of modern life. Americans commonly take on debt for college, automobiles, homes and other major purchases. If we just take […]

Worst Fiscal Condition

States in the Worst Fiscal Condition

States are just like any other entity when it comes to money management. States have income, liabilities, long and short term obligations, and so forth. We may be tempted to think that, at the state level, fiscal problems are either non-existent or very easily solved if they do occur. But this is simply not the case. States […]

Corporate Tax Rate

State Corporate Tax Rates

The majority of the states in these United States have a corporate income tax which they levy on their in-state businesses. These corporate income taxes contribute toward the general fund of states and help further numerous state projects. Some states have a flat corporate tax rate, but most have a graduated corporate income tax which mirrors the […]

Cryptocurrency Wages

Dealing with Cryptocurrency Wages

We’ve discussed bitcoin and other cryptocurrency taxation often in recent posts. Given the IRS’ recent tax collection efforts regarding cryptocurrency, this makes perfect sense. Cryptocurrency appears to be here to stay, although it seems very likely that we will see more fluctuations in its value in the near future. But the fact that it’s here […]

2020 Tax Refund

Best Ways to Spend Your 2020 Tax Refund

Tax season has arrived, and one of the big topics on every taxpayer’s mind is how to spend their 2020 income tax refund. Every year, millions of Americans rely on their tax refund check as their principal source of non-recurring income. Many Americans rely on their tax refund for important purchases, such as vacations, and […]

Statutory Residence

Statutory Residence in New York State

In New York, residency for taxation purposes is inferred based on behaviors of an individual in any given tax year. Residency does not exclusively hinge on a person’s official “status” as either a NY state resident or nonresident. In other words, a taxpayer may be a “statutory” resident for tax purposes based on their actions. […]

New York Beer Tax

New York Beer Tax Hiccups

A recent debate has emerged regarding the desirability of increasing New York’s tax on beer products. Any resultant tax increase will be used to fund various public projects, including education. The current New York State beer tax amounts to a lowly 14 cents per gallon. That’s among the lowest in the nation. In a new […]

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